XRPUSD Medium-term Trend: Ranging
Supply Levels: $0.51, $0.50, $0.49
Demand levels: $0.45, $0.46, $0.47
Yesterday, price of Ripple is in the range bound zone and today price is still ranging between the resistance at $0.50 and the support at $0.45. Ripple price had initial false breakout at the resistance level before it bounced at the support level. Later, it commences its range bound movement. Price of Ripple is likely to break the resistance level in the nearest future.
If price breaks the resistance level, traders should take long positions. On the other hand, if it breaks the support level, traders should take short trades. Meanwhile, the RSI period 14 is level 52 which indicates that price is in the range bound zone.
XRPUSD Short-term Trend: Ranging
Price of Ripple is in a ranging market. The daily chart is tradable because price of Ripple is evenly apart between the resistance and the support levels. When you are trading a ranging market, you follow the trend at its inception. When price gets to the resistance at $0.50, you take a short trade and exit your trade near the support zone.On the other hand, if price gets to the support at $0.48, you take a long trade.
Meanwhile, the RSI period 14 is level 40 which indicates that price is in the range bound zone.
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